LACRP Social Inclusion Summit

Ministerial Session III: Investing in social protection: Enhancing formalisation and achieving universal coverage

Oct 22, 2024 | 5:00 PM - 6:30 PM

Bogota, Colombia


Informality is a complex and multifaceted phenomenon affecting many countries in the LAC region. The COVID-19 crisis has further highlighted the significant vulnerability of informal workers and the need to protect them and their dependents. As LAC countries attempt to address the challenges of vulnerability in the informal economy, it is essential to consider the diversity of informal workers and the contexts of their households. Among the many roots of labour informality—such as limited access to high-quality education and training, and a weak institutional framework and enforcement—the design of the social protection system is a key factor that may deserve more attention than it has received. This session will discuss alternatives for the expansion of social protection and its financing, untying it from formal-sector employment with a view to enhancing formalisation and achieving universal coverage.

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